Nigeria's exports to China surged by 80% year-on-year to $2.3 billion in the first half of 2026, driven largely by increased crude oil shipments, according to data from the National Bureau of Statistics (NBS).
Key Drivers of Export Growth
The NBS report, released on Thursday, attributes the sharp rise to a rebound in global oil demand and higher production levels in Nigeria. Crude oil accounted for over 90% of the total export value, with non-oil exports also growing modestly.
"The increase reflects Nigeria's strategic push to diversify its export markets and strengthen bilateral trade ties with China," said Dr. Yemi Kale, Statistician-General of the Federation, in a statement accompanying the report.
Trade Balance Implications
Despite the export surge, Nigeria's trade deficit with China narrowed significantly, as imports from China grew at a slower pace of 15% to $4.1 billion in the same period. The deficit now stands at $1.8 billion, down from $2.7 billion in H1 2025.
Analysts note that sustained export growth could further reduce the deficit, but caution that infrastructure bottlenecks and currency volatility remain challenges.
Policy and Future Outlook
The Nigerian government has been actively promoting non-oil exports through trade missions and incentives. In July, the Nigerian Export Promotion Council announced plans to increase non-oil exports to China by 30% annually over the next three years.
Economic experts expect the trend to continue, with China's demand for energy and agricultural products providing opportunities for Nigerian producers. However, they emphasize the need for improved logistics and value-added processing to maximize gains.
